Tax Strategies

When market investors suffer losses — or get taken for a ride — they're often eligible for a tax write-off to soften the blow. Users of the bankrupt crypto exchange FTX won't be so lucky.

According to data released by the OECD, the average combined statutory tax rate in its sample of over 160 countries was unchanged at 20% this year.

For businesses, the return of Republicans to control of the House takes the possibility of corporate tax increases favored by Democrats off the table.

When it comes to tax legislation, expect 'small ball' in an era of divided government.

Grants to charities from donor-advised funds grew 28% last year, according to a new report, as DAFs also come under scrutiny for helping the wealthy shield their money from taxes.

Republicans — who are expected to control the House as of January — want tax breaks for private equity, manufacturers and businesses. For their part, Democrats want to expand the child tax credit.

Businesses are lobbying hard for Congress to pass a package of tax breaks worth about $100 billion before the end of the year.

Democrats' hopes for tax increases on the wealthy and corporations would be dashed should Republicans take at least one chamber, and prospects diminish for a windfall profits tax on oil companies.

Taking the prize in annual installments over 29 years, rather than all upfront, dramatically increases the windfall. Lottery victors with seven-figure winnings can also reduce their tax bill.

By keeping an eye on the future and potential new tax developments, tax advisors can offer their clients a sense of stability and proactive tax planning.